We are very pleased to successfully conclude the negotiations with RWE for the Nordseecluster projects. RWE is an experienced developer and the trust in Havfram Wind for projects of such scale is proof of our growing position in the market. We will provide the most modern fleet in the industry, operated by highly skilled teams with profound expertise.

We want to achieve substantial economies of scale and leverage synergies during the development, construction and operation of the four wind farms. The agreement with Havfram Wind, which encompasses all four projects, attests to the efficiency of concentrating activities such as procurement.

We are pleased to secure financing for our two state-of-the-art Wind Turbine Installation Vessels.This Facility, alongside the equity provided by our sponsors Sandbrook and PSP Investments, fully funds Havfram’s newbuilding programme with the support of leading maritime lenders and export credit agencies. Access and cooperation between equity and debt capital providers are key to success in providing the world with renewable energy. This facility is a shining example to this collaboration, and supports our work to harvest clean energy from offshore wind.

The decision to order a second NG20000X Jack-Up vessel with CIMC Raffles is based on the good established cooperation with the shipyard and several commitments with major offshore wind developers. As previously announced, we have signed a contract with Ørsted to install wind turbines at their Hornsea 3 project, starting in autumn of 2026. Vattenfall has appointed us as preferred supplier for their Norfolk Projects, starting in the spring of 2027. Last week, we signed a preferred supplier agreement with RWE for turbine installation support for their Nordseecluster project, commencing in the summer of 2026.

Globally, we experience a steadily growing demand for offshore wind capacity. At the same time, developments within wind turbine technology cause larger wind turbine components and require therefore larger Wind Turbine Installation vessels. Our fleet will be capable of meeting the requirements and challenges of the fast-growing offshore wind market and we are confident that our experienced team will deliver the highest service to clients worldwide.

We are pleased to firm our existing agreement with this second vessel for Havfram Wind and are proud to be a partner for the development of Havfram`s offshore wind business. As a global major offshore equipment EPC contractor, we are confident that we will meet Havfram Wind`s highest demands for quality. In addition, I believe that our cooperation with Havfram Wind will contribute vastly to the offshore wind industry and the global energy transition.

We expect to achieve substantial economies of scale and leverage synergies during the development, construction and operation of the four wind farms. Our preferred supplier agreement with Havfram Wind, which encompasses all four projects, attests to the efficiency of concentrating activities such as procurement.

This is the next important milestone on our way to completing this 1.6-gigawatt cluster. When the Nordseecluster is fully operational at the beginning of 2029 it will generate enough green electricity to supply the equivalent of 1,600,000 German households every year.

Signing the preferred supplier agreement for the transport and installation support of the entire lot of wind turbines for a gigantic project like Nordseecluster is proof of our growing position in the market. I am proud of the trust RWE and Northland Power have in the Havfram Wind team. Participating in such a project of scale is a milestone for our development as a pure play offshore wind company.

Our collaboration with Vattenfall is of great importance for us as an ambitious and fast-growing offshore wind construction company. Vattenfall is one of the largest players in the industry and already provides millions of European households with clean renewable energy. The Norfolk Boreas and Norfolk Vanguard projects are of particular interest, because of their multi-GW size and their important contribution to the UK renewable energy market, the largest in Europe

We are extremely proud to be trusted by Vattenfall for such prestigious projects. Vattenfall is a very experienced developer and has carried a thorough selection process with a high focus on quality and details. This clearly indicates that we, at Havfram Wind, have the right team onboard and have made the right choice for vessel capacity and time to market.

Delivering an offshore wind farm of the size and scale of Hornsea 3 requires the development of strong, collaborative relationships with our contractor partners and the realisation of new supply chain capacity. We are therefore very excited to sign our first contract with Havfram, bringing a new cutting-edge vessel to the offshore wind market and taking the positive working relationship we have created during the procurement phase into execution. We now look forward to working together even more closely, sharing our combined knowledge and expertise to ensure the safe and high-quality delivery of the project.

The different construction phases of the Hornsea offshore wind development zone all represent record-breaking wind projects. The contribution of Havfram Wind to one of these giant projects proves our growing position in the market and the trust given to us by Ørsted. Ørsted has always had the first-mover position in the market. They have over time proven their excellence in developing, constructing, and operating offshore wind farms. Their goal is to reach 30 GW installed offshore wind capacity by 2030, and we, at Havfram Wind, are proud to be able to contribute to such an ambitious target.

We are extremely thankful for getting the opportunity to prove our competence with a project like Hornsea 3. We are confident that we have not only the right assets but also the team to fulfil such a large construction job. Hornsea 3 represents an important contribution to the rapidly growing renewable energy capacity in UK, the largest energy market in Europe. Becoming a main installation contractor for this project, is an important milestone for us as a company and of great importance for our growth.